Nigeria’s inflation outlook improved in October 2025, as headline inflation fell to 16.05 per cent, down from 18.02 per cent in September.

The National Bureau of Statistics reported on Monday that year-on-year headline inflation stood at 17.82 per cent, a sharp drop from 33.88 per cent in October 2024.

The NBS added that this reflects a decline in inflation compared to the same month last year, though measured against a different base year (November 2009).

The NBS further stated, “On a month-on-month basis, the Headline inflation rate in October 2025 was 0.93 per cent, which was 0.21 per cent higher than the rate recorded in September 2025 (0.72 per cent).

This means that in October 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2025.”

According to the NBS, urban inflation eased to 15.65 per cent in October 2025, marking a sharp 20.73-percentage-point drop from 36.38 per cent in October 2024. However, on a month-on-month basis, urban inflation quickened to 1.14 per cent, up from 0.74 per cent in September.

The Bureau also reported that the twelve-month average urban inflation rate fell to 22.68 per cent in October 2025, down 11.84 percentage points from 34.52 per cent a year earlier.

For rural areas, year-on-year inflation stood at 15.86 per cent in October 2025—15.73 percentage points lower than the 31.59 per cent recorded in October 2024. Month-on-month rural inflation slowed to 0.45 per cent, compared to 0.67 per cent in September.

The twelve-month average rural inflation rate declined to 20.81 per cent in October 2025, a reduction of 9.42 percentage points from 30.24% in October 2024.